Worldpay (WP) Shares Gap Down to $94.06

Worldpay Inc (NYSE:WP) shares gapped down prior to trading on Thursday . The stock had previously closed at $97.12, but opened at $94.06. Worldpay shares last traded at $91.13, with a volume of 4102060 shares changing hands.

WP has been the topic of a number of research reports. Bank of America raised Worldpay from a “neutral” rating to a “buy” rating and upped their price objective for the company from $106.00 to $118.00 in a report on Wednesday, October 3rd. Mizuho raised Worldpay from a “neutral” rating to a “buy” rating and upped their price objective for the company from $88.00 to $125.00 in a report on Wednesday, September 12th. KeyCorp upped their price objective on Worldpay from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Worldpay in a report on Thursday, October 4th. Finally, SunTrust Banks upped their price objective on Worldpay to $95.00 and gave the company a “hold” rating in a report on Friday, August 10th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $100.59.

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The firm has a market capitalization of $29.35 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

Worldpay (NYSE:WP) last released its quarterly earnings data on Thursday, November 8th. The business services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Worldpay had a positive return on equity of 14.55% and a negative net margin of 1.72%. Worldpay’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Worldpay Inc will post 3.64 EPS for the current year.

In related news, CEO Philip Jansen sold 130,908 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $92.26, for a total value of $12,077,572.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Heimbouch sold 29,676 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $98.26, for a total value of $2,915,963.76. The disclosure for this sale can be found here. Insiders sold 258,232 shares of company stock worth $24,772,828 over the last ninety days. 1.05% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Scotland Group PLC boosted its stake in Worldpay by 3.9% in the second quarter. Royal Bank of Scotland Group PLC now owns 55,927 shares of the business services provider’s stock valued at $4,574,000 after buying an additional 2,091 shares in the last quarter. Temasek Holdings Private Ltd raised its position in Worldpay by 8.4% in the second quarter. Temasek Holdings Private Ltd now owns 2,426,186 shares of the business services provider’s stock valued at $198,413,000 after purchasing an additional 187,938 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Worldpay in the second quarter valued at about $222,000. Nisa Investment Advisors LLC raised its position in Worldpay by 411.8% in the third quarter. Nisa Investment Advisors LLC now owns 43,500 shares of the business services provider’s stock valued at $4,405,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in Worldpay in the second quarter valued at about $307,000. 89.19% of the stock is currently owned by institutional investors and hedge funds.

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Worldpay, Inc, through its subsidiary, Vantiv Holding, LLC, provides electronic payment processing services to merchants and financial institutions in the United States. It operates through two segments, Merchant Services and Financial Institution Services. The Merchant Services segment offers merchant acquiring and payment processing services, such as authorization and settlement, customer service, chargeback and retrieval processing, and interchange management to national merchants, and regional and small-to-mid sized businesses.